Market Report for Apr 20 2020
Video length: 27 mins
MLNX – possible take over by NVDA
Nasdaq Composite -3.6% YTD
S&P 500 -11.0% YTD
Dow Jones Industrial Average -15.1% YTD
Russell 2000 -26.3% YTD
NYSE Vol: 1.4B
Nasdaq Vol: 4.3B
Key U.S. News:
The markets end the week near session highs amid hopes for COVID-19 treatment
The S&P 500 manages to creep over its d50MA. Dow Jones Industrial Average is approaching the d50MA. Nasdaq Composite is leading the way dealing above both its d50MA and DVI while Russell 2000 is the laggard and has a way to go before reaching the averages.
If the S&P 500 can remain above this level next week then 3000/DVI is its next target. Watch for any candlestick indecision to suggest pullback/reversal but price is our main indicator and right now it continues to indicate strength.
We will look to add to our book slowly over the coming days and week if this momentum continues.
Lets go trade!